Brazilian President Michel Temer has denied allegations that he is involved in a major corruption scheme.

Business tycoon Joesley Batista accused Mr Temer of leading "the country's most dangerous criminal organisation".

In an interview with Época magazine published on Saturday, the billionaire alleged that Mr Temer had asked for money several times in recent years in exchange for political favours.

Mr Temer's lawyers intend to file a lawsuit against Mr Batista on Monday.

Mr Batista last month released a secret recording incriminating the president, a move that caused political uproar and led to calls for Mr Temer to step down.

The business mogul was co-operating with the police as part of a plea bargain deal he clinched when the authorities started investigating him in Operation Car Wash - the country's largest-ever corruption investigation that has implicated several big names.